https://www.bizjournals.com/sanfrancisco/news/2022/11/09/seagate-technology-lists-fremont-campus.html
7 replies (most recent on top)
A leasing company will buy the building and Seagate will sign an agreement for 15-20 years. Seagate can then use he cash to pay executive bonuses and the dividend. It'll just have an annual expense to contend with.
It will yield one quarterly dividend payment, for context. Just stop the dividend! Between the initial purchase and fit out it cost over 500m and will be interesting to see what they get in this market, remote work and companies leaving California.
Another indication that this company is finished. Incompetent leadership, no strategy, and investors should sue for malpractice and lying about hamr, growth for so long. Just lies
Sad!
Looks like when it goes bankrupt the goal is to have zero book value.
So where do Fremont employees sit
Looks like same is planned for the Longmont campus.
It's a lease back deal since we have no cash. When you have no cash, you start selling our assets.
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